We were thrilled to announce the ‘GivX 25’ of leading community investors at an awards ceremony yesterday morning in the City of London.
Our leading firms include HSBC, Carillion and John Lewis Partnership, all of whom, by using the GivX framework, were able to compare their efforts with those of smaller companies through scoring per employee.
Leading the cohort of companies who are pioneering best practise in CSR, ITV were crowned the first ever top contributor of the GivX Community Value Award (the GivX Awards).
Using the new framework for measuring the value of giving to the community, ITV was best in class with a score of 10,164 points (or £10,164 of value to the community) per employee.
As first ever winners of the GivX Community Value Award, ITV’s high score was a reflection of their commitment to putting their strengths to the service of the community: dedicating many hours of air time to drive awareness and action for social causes, as well as public donations to charities. ITV are pleased to be an early adopter of a system which will simplify and provide transparency in the field of corporate giving.
Speaking on behalf of ITV, Madeleine Cobb Head of Corporate Responsibility at ITV said:
“Everyday our programmes give us the chance to raise awareness and champion causes to millions of people. Reaching about 40 million people a week, we have a unique opportunity to have a positive impact on society. GivX makes it simple for organisations to assess their value and benchmark their contribution.”
Developed by the team here at Benefacto, the GivX framework allows companies and organisations to simply and effectively measure their community investment, and to benchmark their ratings against other companies.
GivX has been developed in response to other often complicated, CSR measurement tools and has been designed to simplify the process, measuring value on only six key metrics. Equally, GivX outputs a simple, comparable score: companies report just two numbers, their total contribution, and a per employee score. The aim being to make communicating and comparing the work companies do more accessible to all.
Speaking on behalf of Benefacto, Ben Darlington explained:
“The principle behind the GivX framework is one of simplifying CSR measurements to make it easier for businesses and organisations to measure their contribution to the community and then communicate it. Our inaugural awards were to celebrate an innovative group of companies, who by pioneering the framework, are committing to transparently and effectively reporting their change-making community investment programmes.
“At Benefacto, we believe that, to measure CSR effectively, companies need to look beyond the cost to them of giving, and focus on the actual value created for charities.
“Furthermore, in an era where we are consistently seeing calls for increased transparency from organisations in both the private and public sectors, we understand the importance of providing a framework that is easy for companies to use, but equally clear and consistent for the public to understand and interpret. “
GivX’s free-to-use framework introduces a common language that enables companies to benchmark six different areas of their community investment programme. Donations, fundraising and volunteering work are made comparable in terms of the ‘Community Value’ a company has created.
Measuring ‘Community Value’ places emphasis on the worth of donations or volunteering work for charities. It is defined as the replacement cost the charity would have to pay if it were to purchase similar goods or services on the open market.
Download the GivX report below
For more information on GivX visit givx.org
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